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If you do business in a country, you have to accept that you're going to be subject to the laws of that country, and that clearly includes laws regarding compet
by tallanvor 5y ago
If you do business in a country, you have to accept that you're going to be subject to the laws of that country, and that clearly includes laws regarding competition. Facebook can probably appeal the ruling, but at the end of the day, if they want to keep doing business in the UK, they're going to have to comply with the decisions of the regulatory bodies there.
The US has blocked mergers as well, and has retroactively forced acquisitions to be terminated. An example was Grindr selling a 60% stake of the company to the Chinese company Kunlun in 2016, Kunlun purchasing the rest of the company in January 2018, and CFIUS issuing a ruling in March 2019 that a Chinese company owning Grindr posed a national security risk and forcing them to sell the company (although finding a buyer and completing the sale took another year).
- worker767424 5y ago> If you do business in a country, you have to accept that you're going to be subject to the laws of that country Yes, but between actions like this and privacy regulations, being multinational is looking less and less workable. This isn't to say the regulations are bad, just that you can't have 100 jurisdictions with different policies trying to manage your company.